2018 (10) TMI 1590

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

...., AR For The Revenue : Shri Mudit Nagpal, Sr.DR ORDER PER RAJPAL YADAV, JUDICIAL MEMBER By this Misc. Application, the assessee is seeking recall and rectification of order of the Tribunal passed in ITANo.1713/Ahd/2015 dated 27.1.2016. 2. In the Misc. Application the assessee has pointed out certain errors committed by the Tribunal while adjudicating the issue of speculation loss. T....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e test laid down by decision in case of CIT v. Darshan Securities P. Ltd ( 341 ITR 0556)(Bom.) has to be considered but the Tribunal not been considered the same. It is held that in computing the gross total income the normal provisions of the Act is applied and it is only thereafter, that it has to be determined as to whether the gross total income so computed consists mainly of income which is c....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nd therefore, impugned order of the Tribunal cited supra deserves to be rectified. The ld.DR on the other hand submitted that all issues pointed out by the assessee in the MA have already been dealt with by the Tribunal in its detailed order, and therefore, no further adjudication is required. He submitted that the assessee under the garb of MA is attempting to review the order which is not permis....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....fying any mistake in the order which is apparent from record and does not extend to reviewing of the earlier order. It is settled position of law that reconsidering the findings recorded, or reconsidering application of relevant provisions of law to facts of case, such a course is not permissible under section 254(2). Therefore, we are of the view that by pointing out the alleged apparent errors, ....